ETH/USD continued its upward trend on Friday on the back of newly found momentum following the hard fork. It has hit a fresh high of 13.18 levels so far in the day, and currently trades at 13.12 levels at the time of writing (Kraken).

Ichimoku analysis of daily chart:

Tenkan Sen: 11.68

Kijun Sen: 11.90

Trend Reversal: 11.72 (90 EMA)

“The pair has shown strength after forming a double top around 13.00 levels and is trading well above 55 EMA. So, a jump till 16.08 levels (June 22) seems likely”, FxWirePro said in a statement.

On the topside, the pair is likely to find resistance at 14.85 levels (May 20 high) and a break above will see it testing 16.08 levels (June 22 high)/17.92 (127.2% retracement of 16.08 and 9.30). On the other hand, support is seen at 11.72 (90 EMA) and a break below will target 10.78 (61.8% retracement of 9.30 and 13.19)/9.30 (July 5 low).